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Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated

Posted: Dec 02, 2024

  • Delaware judge ruled that Tesla CEO Elon Musk is still not entitled to receive a $56 billion compensation package.
  • Shareholders of Tesla voted to reinstate the compensation package, but the judge deemed it excessive and rescinded it.
  • Plaintiffs ordered Tesla to pay $345 million to attorneys, less than initial request for billions.
  • Musk's compensation future remains uncertain at Tesla.
  • Delaware judge rejected the request to reinstate Elon Musk's $56 billion Tesla compensation package
  • Shareholders of Tesla voted to reinstate the compensation, but the judge ruled against it
  • Despite the vote, Elon Musk is still not entitled to receive the compensation package
  • The ruling was made in Wilmington, Delaware
  • The decision was reported by Tom Hals for Reuters


What do people on Reddit think?

🚨 Reddit sentiment: mixed/negative - While there is a sentiment among some users that Musk's targets were impressive, the majority of comments criticize the compensation package as excessive or unreasonable and question his motives and actions, leading to an overall negative sentiment. Summarized comments: - Many commenters find the $56 billion pay package to be excessive and agree with the judge's decision to not reinstate it. - There's confusion about the legal system’s ability to block shareholder decisions. - Some users believe that if Tesla were privately owned, Musk could pay himself any amount he chooses. - There's criticism of Musk trying to reinstate the package to avoid taxes. - A commenter points out that the $345 million awarded to attorneys seems excessive but acknowledges the wide gap compared to $56 billion. - There is a sentiment that the compensation package was unreasonable, even when voted in. - Some believe Musk's actions are to cover his financial losses from buying Twitter. Stock tickers discussed: $TSLA



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